Massive Layoffs at Volksbanken Group

Companies ♦ Published: November 9, 2011; 20:33 ♦ (Vindobona)

Hundreds of employees of the Austrian bank will lose their job in the next years, according to media reports.

Massive Layoffs at Volksbanken Group / Picture: © Wikipedia / MrPanyGoff

Austrian daily newspaper “Kurier” on Wednesday reported that Volksbanken Group (VBAG) is planning massive layoffs. Up to 500 of the struggling bank’s staff could be dismissed – this would mean that one out of two employees would lose their job. “It has already been communicated that the staff will be reduced, but these numbers are exaggerated”, commented VBAG spokeswoman…